Raytheon Technologies Correlations

RTX
 Stock
  

USD 98.72  1.29  1.32%   

The correlation of Raytheon Technologies is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Raytheon Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Raytheon Technologies Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Raytheon Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Raytheon Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Raytheon Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Raytheon Technologies Corp to buy it.

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Moving against Raytheon Technologies

-0.57APAmpco-PittsburghPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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High negative correlations   
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Raytheon Technologies Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Raytheon Stock performing well and Raytheon Technologies company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Raytheon Technologies' multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean
Deviation
Jensen
Alpha
Sortino
Ratio
Treynor
Ratio
Semi
Deviation
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.73  0.48  0.18  2.46  1.73  0.13 (1.84)  3.56 (2.97)  27.10 
MSFT 1.81 (0.12)  0.00 (0.02)  0.00 (0.0384)  0.00  3.92 (3.54)  11.64 
UBER 2.79 (0.01)  0.01  0.06  3.22  0.0048 (3.38)  8.60 (5.58)  19.67 
F 1.95 (0.20)  0.00 (0.07)  0.00 (0.06)  0.00  2.75 (5.14)  14.93 
T 1.27  0.11  0.06  0.21  1.22  0.05 (1.43)  2.54 (2.11)  9.29 
A 1.71  0.22  0.13  0.24  1.62  0.11 (2.06)  3.98 (2.97)  11.04 
CRM 2.20 (0.06) (0.01)  0.02  2.64 (0.013) (2.24)  4.31 (4.29)  14.31 
JPM 1.49  0.24  0.15  0.29  1.27  0.13 (1.60)  4.20 (2.15)  7.57 
MRK 1.03  0.34  0.23  1.09  0.89  0.22 (1.22)  2.44 (1.71)  7.38 
XOM 1.62  0.12  0.06  0.20  1.90  0.06 (1.68)  3.65 (3.00)  9.75 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Raytheon Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Raytheon Technologies Corporate Management

Elected by the shareholders, the Raytheon Technologies' board of directors comprises two types of representatives: Raytheon Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Raytheon. The board's role is to monitor Raytheon Technologies' management team and ensure that shareholders' interests are well served. Raytheon Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Raytheon Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
Roy Azevedo - President - Raytheon Intelligence and SpaceProfile
Elizabeth Amato - Executive Vice President Chief Human Resources OfficerProfile
Brian Rogers - Independent DirectorProfile
Stephen Timm - President - Collins Aerospace SystemsProfile
Shane Eddy - President - Pratt and WhitneyProfile

Invested in Raytheon Technologies Corp?

The danger of trading Raytheon Technologies Corp is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Raytheon Technologies is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Raytheon Technologies. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Raytheon Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, take a look at Your Equity Center. You can also try Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.

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When running Raytheon Technologies price analysis, check to measure Raytheon Technologies' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Raytheon Technologies is operating at the current time. Most of Raytheon Technologies' value examination focuses on studying past and present price action to predict the probability of Raytheon Technologies' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Raytheon Technologies' price. Additionally, you may evaluate how the addition of Raytheon Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Raytheon Technologies' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Raytheon Technologies. If investors know Raytheon will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Raytheon Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.016
Market Capitalization
143.2 B
Quarterly Revenue Growth YOY
0.046
Return On Assets
0.0283
Return On Equity
0.064
The market value of Raytheon Technologies is measured differently than its book value, which is the value of Raytheon that is recorded on the company's balance sheet. Investors also form their own opinion of Raytheon Technologies' value that differs from its market value or its book value, called intrinsic value, which is Raytheon Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Raytheon Technologies' market value can be influenced by many factors that don't directly affect Raytheon Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Raytheon Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine Raytheon Technologies value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Raytheon Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.